From Espn.com:
The New Orleans Saints will not have a new contract done for Drew Brees before the start of the season and the two sides remain far apart on a new deal, a source familiar with the talks told ESPN NFL Insider Adam Schefter on Thursday.

The Saints played 39 seasons before Drew Brees arrived in 2006. They had one playoff win and never had the league's top-ranked offense. That's all changed with Brees as New Orleans has led the NFL in offense three times -- including 2009 when it also won the Super Bowl.